Searchlight earns 100% interest in Robinson Creek

Executive Summary

• Searchlight Resources Inc. has completed the acquisition of a 100 % interest in the Robinson Creek gold property, finalizing required payments and share issuance.
• The property includes two claim blocks (2.9 km²) with an initial exploration target of 77,000–154,000 oz Au and historic drill intercepts up to 7.59 g/t over ~11 m.
• Next steps will be diamond drilling to support a NI‑43‑101 resource estimate and engineering studies for potential open‑pit mining, leveraging proximity (≈15 km) to the Bootleg Lake brownfield project.

Key Details

• Completed payment and share issuance under May 2021 option agreement; 2 % NSR royalty remains payable to vendor.
• Searchlight holds the right to purchase 1.5 % of the 2 % NSR royalty for $2.25 M at any time.
• Property description: two claim blocks covering 2.9 km², located ~16 km west of Creighton, SK and Flin Flon, MB; ≈15 km northwest of Bootleg Lake project.
• Historical data compiled: >70 drill holes (1940s‑1980s), airborne geophysics survey, surface sampling.
• Initial exploration target: 77,000–154,000 oz Au; 2–3 Mt ore at 1.20–1.60 g/t Au.
• Notable historic drill intercepts (drill‑indicated lengths):
• 2.46 g/t Au over 57.60 m (DDH 81‑2)
• 7.59 g/t Au over 10.94 m (DDH HB‑6)
• 3.80 g/t Au over 21.00 m (DDH R07‑1)
• 2.15 g/t Au over 32.00 m (DDH 81‑1)
• 60 historic drill holes contain >1 g/t Au; 45 contain >2 g/t Au over at least 1 m.
• Planned next phase: diamond drilling to generate data for a modern NI 43‑101 resource estimate and an engineering study evaluating open‑pit mine potential.
• Proximity to Bootleg Lake allows shared processing infrastructure, potentially reducing capital costs.

Notable Quotes

“This gives Searchlight a 100‑percent interest in two important gold projects in the Flin Flon mining camp at a time of near‑record gold prices,” – Stephen Wallace, CEO.
“The company sees the potential of combining the Robinson Creek project… with our brownfield Bootleg Lake gold holdings nearby.” – Stephen Wallace, CEO.